The Bitcoin rate He has always loved swinging all the time. He's like a kid at Disneyland, he climbs on the most beautiful ride, where he runs fast up and down. But not long ago, he started one of the fastest tracks in his entire history.
From November 14, 2018, the world's first $ 6 365 cryptocurrency rate began a rapid journey to the unknown.
What if the end for Bitcoin was at zero rate? What then? It's possible? Will it affect other cryptocurrencies? The shark of the coin he found the answers for these and other questions.
Current Bitcoin rate
Bitcoin constitutes a significant part of the cryptographic market. With a total market valuation – $ 130 880 931 295, the capitalization of BTC is $ 69 billion, as of November 28, 2018, according to CoinMarketCap. Moreover, the currency is extremely popular within the community.
From the start of this year, Bitcoin has lost more than 75% of its price, although it continues to hold first place in terms of capitalization, outperforming its closest rival Ripple by about 80% .
A Bitcoin rate could drop to zero?
Like any other fiat or digital currency, the price of BTC can become zero. But it is possible to predict the depreciation of the rate.
Since 2013, there has been a gradual extinction of large blockchain projects from the market. Over five years, more than half of these projects have finished their work. The problem was in the lack of scalability and high competitiveness.
How can this happen?
The rate can turn into "a big nothing" if developers stop supporting and updating the network. For this reason, consumer interest will decrease, reducing demand. As a result, the cryptocurrency will depreciate in the market.
When will the Bitcoin rate be zero?
While people invest in BTC, and they are stored on the electronic wallets of thousands of cryptic investors, and the rate causes active discussions in the community – Bitcoin will leave. Therefore, in the short term, it may not be such a sad fall, that's for sure.
BTC is strengthened by the payment system with the same name, where defects are constantly eliminated and updates are implemented to improve the network. This again indicates the relevance of Bitcoin. At least, until it ceases to be fun for its founders, which certainly will not happen in the near future.
Does the zero percentage Bitcoin affect other cryptocurrencies?
Most of the cryptocurrency market is represented by Bitcoin. This means that the state of the market depends directly on the first cryptocurrency, but not only. The market is full of other players, the largest of which can also influence the rate of other cryptocurrencies.
As for the rate, capitalization decreases. This means that other cryptocurrencies, which can easily replace BItcoin, will increase the demand and volume of their market capitalization. Subsequently, it will give them power in the crypto environment. That is, if the Bitcoin rate drops to zero – there will be another cryptocurrency, which will take first place.
Who can replace Bitcoin?
Although, Bitcoin is the most popular and most needed cryptocurrency, it still has gaps. Of course, developers are constantly struggling with them and create the solution, which will bring Bitcoin closer to the world's ideal currency.
In any case, you must always hope for the best, but prepare yourself for the worst. We suggest being creative. Just imagine your usual first raise at work. As usual, after the quarrel with the alarm clock, you drag yourself into the lazy kitchen to have a coffee. The Coin Shark newsletter will help brighten up the fragrant beverage 🙂 And suddenly, this is what happens: the course is lit in red, and the headlines of the news sadly report: "The legendary Bitcoin had finally collapsed to zero ".
Imagined? What are the next moves? Were you prepared for this? To avoid panic, we suggest that you consider cryptocurrencies, which could replace Bitcoin if you were dead right now.
Not all cryptocurrencies suffered during the recent market crash. Against the red rate, Ethereum gave Ripple the second place without any resistance. The new second world leader in cryptocurrency and blockchain is the currency of the settlement system with the same name created by Ripple Lab. The main idea: create immediate currency transfers and accelerate online data exchange.
At present, Ripple's market capitalization is $ 15 billion, which represents about 12% of the total market capitalization.
Recently, it is the number three of cryptocurrency. Yes, Ethereum not only failed to resist the market collapse, but also returned the position to the aforementioned cryptocurrency. This cryptocurrency has a great financial future, as it has a wide range of users and is considered the best alternative to Bitcoin. Since then, Ethereum has implemented thousands of transactions per second.
The market capitalization of Ethereum is $ 11 billion, which represents about 9% of the total market capitalization.
This cryptocurrency was created by the BItcoin block chain block. Despite the fact that the ramification of the world's first cryptocurrency took place on 1 August 2017, today Bitcoin Cash occupies the fourth place in terms of market capitalization. The new cryptocurrency is better than its predecessor, because the transaction in the network is confirmed faster.
Bitcoin Cash is 2.45% of the total cryptocurrency market with its own market capitalization of $ 3 billion. We want to remind you that recently Cash has Bitcoin divided into two branches – Bitcoin Cash ABC and Bitcoin Cash SV.
The system, which owns the EOS cryptocurrency, is the most advanced for distributed applications and smart contracts. It is capable of conducting up to one million transactions per second simultaneously. That's why EOS is called "The Ethereum killer", and is also considered a worthy substitute for Bitcoin.
EOS has a market capitalization of $ 3 billion.
Although, due to the CryptoNote-CryptoNight protocol, users of this cryptocurrency have a complete anonymity. This makes Monero attractive to the crypto community.
The capitalization of XMR $ 965 million, representing 0.75% of the total market capitalization.
What will happen if the Bitcoin rate is zero? Is it even possible? Yes, it can happen, but certainly not in the next decade. Bitcoin will be at zero if cryptocurrency is not strengthened by the developers. However, when the value of BTC falls to zero, it will be definitively replaced by another cryptocurrency.
However, second Blockspoint, an encrypted investor Tim Draper is confident in the positive future of Bitcoin. The world economy will accept cryptocurrency as an alternative currency, which will share the financial market with the fiat. And Bitcoin will contribute to this.
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